April 2014 - Trezza Law

Is Your Chapter 13 Bankruptcy Plan Feasible?

April 26, 2014 | by trezza_admin | Arizona Bankruptcy, Stephen Trezza, Tucson Bankruptcy Attorney

Before the court confirms your chapter 13 plan, you will have to pass what is commonly referred to in bankruptcy law as the “feasibility” test. This isn’t really a test, but the court will look at whether or not the information we provide in the bankruptcy forms and schedules show enough income so that you can make the proposed payments. Whether it is the monthly payments you are proposing or a lump sum payment to be paid at the end of the plan, we should be able to show that the plan can be reasonably completed with the resources we report in the schedules.

What Happens to Utility Bills in Bankruptcy?

April 18, 2014 | by trezza_admin | Stephen Trezza, Trezza and Associates

What Happens to Utility Bills in Bankruptcy? When debts pile up, it can become overwhelming to pay any bills. And during the summer especially, Arizona utility bills can be astronomical. And because utilities are very important, you may wonder what will happen to your service if you file a bankruptcy petition. Will you still have […]

Chapter 13 Bankruptcy

April 14, 2014 | by trezza_admin | Arizona Chapter 13, Stephen Trezza, Tucson Bankruptcy Attorney

In previous blogs, I have written introductory information about the basic process in chapter 13 bankruptcy. In this next series of articles, I will discuss some of the issues surrounding chapter 13. In order to file chapter 13, you must be an individual with regular income. There are limits to the amount of debt you can have and still be eligible to file chapter 13. As of April 1, 2013 the limits are now $1,149,525.00 for secured debt and $383,175.00 for unsecured debt. These numbers are adjusted every three years. If you are close to these numbers, be sure and contact our office to get the current applicable limitations.